NewEdge Wealth LLC Has $616,000 Stock Position in SLB Limited $SLB

NewEdge Wealth LLC grew its position in SLB Limited (NYSE:SLB) by 134.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,054 shares of the oil and gas company’s stock after buying an additional 9,207 shares during the period. NewEdge Wealth LLC’s holdings in SLB were worth $616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Ethic Inc. boosted its stake in SLB by 17.1% in the 4th quarter. Ethic Inc. now owns 111,958 shares of the oil and gas company’s stock worth $4,297,000 after purchasing an additional 16,379 shares during the period. Ballentine Partners LLC boosted its stake in SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares during the period. Wesbanco Bank Inc. boosted its stake in SLB by 12.7% in the 4th quarter. Wesbanco Bank Inc. now owns 9,897 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 1,115 shares during the period. Strategic Wealth Advisors LLC acquired a new position in SLB in the 4th quarter worth $30,000. Finally, Koshinski Asset Management Inc. acquired a new position in SLB in the 4th quarter worth $225,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.8%

SLB stock opened at $55.33 on Friday. The firm has a 50-day moving average of $51.44 and a 200-day moving average of $45.70. SLB Limited has a one year low of $31.64 and a one year high of $57.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $82.72 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.92 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the prior year, the business posted $0.72 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Stifel Nicolaus upped their target price on shares of SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. UBS Group upped their target price on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their target price on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.74.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.